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Committee approves PACE financing for Erieview Tower’s W hotel
Summary
A Cleveland council committee approved an ordinance authorizing Property Assessed Clean Energy (PACE) financing to cover energy upgrades for the W‑branded hotel portion of the Erieview Tower redevelopment: up to $43,881,864 over 28 years, to be repaid via a special assessment on the property tax bill.
A Cleveland City Council committee on a procedural vote approved an ordinance authorizing PACE (Property Assessed Clean Energy) financing for the hotel component of the Erieview Tower redevelopment.
Bobby Bruno, identified in the meeting as a project manager for the city, told the committee the financing would cover energy and efficiency improvements to the hotel — including HVAC controls, building envelope upgrades, water‑heating systems and lighting fixtures — and would be secured through a special assessment on the property…
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